163 South St - Storefront FOR SALE


Pittsfield, MA 01201
$3,433,000 USD
929-229-2614
163 South St, Pittsfield, MA for Sale
$3,433,000 USD
Storefront - FOR SALE
1/9
null | 6.25% Cap Rate

163 South St
Pittsfield, MA 01201


HIGHLIGHTS

  • 100% Occupied | Options to Extend | Scheduled Rental Increases
  • Dense Retail Corridor | Strong National/Credit Tenant Presence | Berkshire Medical Center (302 beds) | Nearby Schools
  • Near Signalized, Hard Corner Intersection | Excellent Visibility & Access
  • Strong Demographics in 5-mile Trade Area | Direct Consumer Base

OVERVIEW

• The property is 100% occupied by O’Reilly Auto Parts (NASDAQ: ORLY) (S&P BBB), Berkshire Medicine, and Bottomless Bricks • O’Reilly Auto Parts commenced their lease in January 2024 and currently has apx. 14 years remaining on their initial 15 year lease term • O’Reilly has 4 (5-year) options to extend, demonstrating their commitment to the site • The lease features 8% increases every 5 years and at the beginning of each option period • The tenant Berkshire Medicine has been a tenant at the center since 2016 and currently has apx. 2 years remaining • The lease features 3% annual increases • Bottomless Bricks currently has 1 year remaining on their initial lease with 1 (1-year) option and 1 (5-year) option to extend, demonstrating their commitment to the site • The lease features 3.5% increase in the first option, and 2% annual increases in the second option, growing NOI and hedging against inflation

FOR SALE DETAILS

PRICE

$3,433,000 USD

PRICE/SF

$249 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

O'Reilly Auto Strip Center | 2024 Renovation

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Auto Repair, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

66

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

BG

APN/PARCEL ID

PITT-000008H-000007-000001

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.